OfflineI just started in the DG family and green. But I am trying really hard at getting things going. I have not done a deal yet. But I have found a great in with some bank asset managers in my area. Well I just received information on a commercial property in the down town area of Chicago. The property was just appraised for 3.9 mil. and is 70% occupied. Great Investment. The bank is looking for 2.3 mil. with some wiggle room on price. This property is not on the MLS. I would like to see if any one in the DG family would like to work with me on this property.
Thanks, John Goody
john@jlginvestmentproperties.com
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What type of commercial (apartments, offices, retail, hotels, industrial, etc)?
What are the numbers?
This is mostly offices, 70% rented, around $29,000. per month in rent income at this time. Looks to be around $59,000. per month fully occupied. There is space to convert to condos. Appraised at 3.9 Mil.
If that appraisal is older than 90 days, then I can't use it.
Here's what I'm looking for (actual--not proforma--numbers):
purchase price?
annual gross rent (in $/sqft/year)?
rentable space (in sqft)?
number of units?
annual net operating expenses?
annual net operating income?
unit mix?
average vacancy rate in that area?
how much for any deferred maintenance or immediate repairs?
any rent comps?
class A, B, or C?